XLowCards.com is an independent, for-profit web site. LowCards.com receives compensation from most of the credit card issuers whose offers appear on the site. This compensation helps support our website and enables us to write insightful articles to help you manage your credit card accounts. This compensation, as well as the likelihood of applicants’ credit approval and our own proprietary website guidelines, may impact how and where the cards appear on our site.

LowCards.com does not include all credit card companies or every available credit card offer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. Every reasonable effort has been made to maintain accurate information, however credit card offers change frequently. After you click on an offer you will be directed to the credit card issuer’s secure web site where you can review the terms and conditions for your offer.

Finding a credit card which fits your credit profile will maximize your chances of approval and help match you with the right features based on your needs. These cards are organized based on credit scores.

LowCards is a trusted source of credit card and financial news. LowCards has been featured in over 200 news publications, including The Wall Street Journal, Forbes, CNN, Fox News, The Today Show, and more.

CFPB Urges Card Companies to Provide Free Credit Scores

March 4, 2014, Written By Sarah Hefner

The Consumer Federal Protection Bureau is urging credit card issuers to provide free credit scores for their customers. Doing so would allow consumers across the country to better track the health of their credit.

“Consumers often learn the importance of their credit standing when it is too late: after a credit application is denied or identity theft has occurred,” said Richard Cordray, the CFPB’s director, in a letter to issuers.

At this time, credit card companies are only required to provide credit scores if they deny a customer’s application. This helps the consumer avoid applying for other credit cards with similar requirements, which would turn into unnecessary applications.

FICO has been working with lenders throughout the nation to provide free scores to their customers. The company estimates that by the end of 2014, 25 million people will have access to free scores through their credit accounts.

“Making this information available through existing channels, such as including credit scores with other online account information and on monthly statements, is likely to yield positive returns that are worth the effort,” said Cordray.

Consumers can catch problems with their credit soon after they occur and immediately take action to reverse the problem.

If you don’t have your credit score on your credit card statements yet, be patient. The CFPB is fighting to make that happen for you.

About Sarah Hefner

Sarah Hefner has written for several publications as well as serving as an editor to various writers. She graduated from the School of Communications & Journalism at Auburn University with a Bachelor of Arts degree in Public Relations.

Connect With Us

Editorial Note: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through the credit card issuer affiliate program. See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information, however all credit card information is presented without warranty. After you click on an offer you will be directed to the credit card issuer's web site where you can review the terms and conditions for your offer.

Advertiser Disclosure: LowCards.com is an independent, for-profit web site. LowCards.com participates in the Affiliate Network, and receives compensation from most of the credit card issuers whose offers appear on the site. This compensation helps support our website and enables us to write insightful articles to help you manage your credit card accounts. This compensation, as well as the likelihood of applicants' credit approval and our own proprietary website guidelines, may impact how and where the cards appear on our site.

LowCards.com does not include all credit card companies or every available credit card offer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. Every reasonable effort has been made to maintain accurate information, however credit card offers change frequently. After you click on an offer you will be directed to the credit card issuer's secure web site where you can review the terms and conditions for your offer.